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US Beef Exports remain high in July

Beef

US beef exports were above last year's pace in July and had the highest monthly export value totals on record, according to statistics released by USDA and compiled by the U.S. Meat Export Federation (USMEF).

Posted on Sep 11 ,10:15

US Beef Exports remain high in July

 

Beef exports from the United States reached 104,488 metric tons (mt) in July, with a 5% increase year-over-year. Export value rose to 623.7 million dollars, by 18% compared to the previous year and it was the highest since December 2014.
In the first seven months of 2017, exports reported an increase of 11% in volume (711,364 mt) and 15 percent in value ($3.97 billion) compared to the first seven months of last year.

Exports accounted for 13.2% of total U.S. beef production in July and 10.7% for muscle cuts only. These were the highest ratios of 2017, but down from 14.2% and 11%, respectively, last July. For January through July, beef exports accounted for 12.8% of total production and 10% for muscle cuts – roughly steady with last year. Export value per head of fed slaughter averaged $299.21 in July, up more than $35 (or 13%) from a year ago. Through July, per-head export value was up 9% to $273.52.

“July was certainly a solid month, especially for beef exports, but these results remind us that the U.S. red meat industry operates in an intensely competitive global environment,” said USMEF CEO Philip Seng.

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